Clearbridge Investments LLC raised its stake in Parsley Energy Inc (NYSE:PE) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,698,415 shares of the oil and natural gas company’s stock after acquiring an additional 6,019 shares during the quarter. Clearbridge Investments LLC owned approximately 0.86% of Parsley Energy worth $79,441,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PE. Assetmark Inc. increased its stake in Parsley Energy by 417.5% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the oil and natural gas company’s stock valued at $105,000 after purchasing an additional 2,864 shares during the last quarter. Cerebellum GP LLC acquired a new position in Parsley Energy in the fourth quarter valued at $128,000. American International Group Inc. acquired a new position in Parsley Energy in the fourth quarter valued at $155,000. Trexquant Investment LP acquired a new position in Parsley Energy in the third quarter valued at $206,000. Finally, IFM Investors Pty Ltd acquired a new position in Parsley Energy in the third quarter valued at $209,000. 82.60% of the stock is owned by institutional investors.
In related news, Director Ron Brokmeyer bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $25.66 per share, with a total value of $51,320.00. Following the completion of the transaction, the director now directly owns 112,128 shares of the company’s stock, valued at $2,877,204.48. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bryan Sheffield bought 189,500 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $26.34 per share, with a total value of $4,991,430.00. Following the transaction, the insider now directly owns 11,533,063 shares of the company’s stock, valued at $303,780,879.42. The disclosure for this purchase can be found here. 15.51% of the stock is owned by corporate insiders.
Parsley Energy (NYSE:PE) last posted its quarterly earnings results on Wednesday, February 21st. The oil and natural gas company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.13. Parsley Energy had a return on equity of 3.10% and a net margin of 11.04%. The firm had revenue of $311.49 million during the quarter, compared to the consensus estimate of $298.04 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 99.8% compared to the same quarter last year. equities research analysts forecast that Parsley Energy Inc will post 1.23 EPS for the current year.
Several equities analysts recently commented on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $41.00 target price on shares of Parsley Energy in a research note on Tuesday, January 9th. ValuEngine lowered Parsley Energy from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Morgan Stanley upped their target price on Parsley Energy from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Credit Suisse Group set a $38.00 target price on Parsley Energy and gave the company a “buy” rating in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Williams Capital lowered Parsley Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $38.00 to $34.00 in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company. Parsley Energy has an average rating of “Buy” and a consensus target price of $35.83.
Parsley Energy Profile
Parsley Energy, Inc is a holding company. The Company is an independent oil and natural gas company. The Company focuses on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and includes three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin.
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